• About
  • Advertise
  • Privacy Policy
  • Contact
Monday, May 12, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

Tuna Association claims 2021 Budget placed less emphasis on sector’s growth

March 31, 2021
thevaultzby thevaultz
in Agribusiness
0
Tuna Association claims 2021 Budget placed less emphasis on sector’s growth

Richster Nii Amarh, the Ghana Tuna Association's Secretary.

The Ghana Tuna Association has stated the country’s budget and economic policies placed less focus on the growth of the fisheries sector. According to the Association, this year’s budget, just as previous ones, failed to address the sector’s challenges.

Speaking in an interview, Richster Amarfio, the Ghana Tuna Association’s Secretary indicated that the artisanal sector has largely not received much government support in terms of budgetary allocations. He said the government’s budget has been always how the sector would contribute more to the government revenue generation program. He, therefore, suggested that the budget must look basically at how to support the artisanal sector to foster its growth.

Mr. Amarfio added that the budget must not only look at maximizing revenue generation from the industry. Rather, the government must also see how to enforce laws against illegal fishing towards the management of fish stocks.

RelatedPosts

Benso Oil Palm to Pay GHS0.09 Dividend on July 10, 2025, Pending Shareholder Nod

Ghana’s Cocoa Sector in Crisis Over $263M Loan Outcome

Northern Ghana Gets Horticulture Boost as Agrihouse Launches Ambitious Agribusiness Project

Furthermore, he stated that moving forward a lot more engagement would be needed to address the challenges with the sector.

“We probably need to do more engagement on budgeting for the fisheries sector. We need to develop capacity in how to budget for the fisheries sector to make the fisheries sector respond to the needs of the country.”

Richster Amarfio, the Ghana Tuna Association’s Secretary

Tuna has been Ghana’s biggest seafood export, contributing significantly to the domestic fisheries sector. Among the top 10 products, tuna contributed about $1.66 billion representing 57% of the total non-traditional export revenue in 2019. However, Ghana is experiencing a decline in marine catches as a result of overfishing, illegal fishing, habitat degradation and many more.

Varied Assessment of Government’s Budget for Fisheries Sector

In another development, SEND Ghana noted that budgetary allocation for the Ministry of Fisheries and Aquaculture Development has increased by 163.6%. They indicated that the increment is in line with calls for increased funding for the development of the sector. However, the analysis over the years show that execution rates have been low, they noted. They attributed the low execution rates to non-releases of substantial amounts of approved budgets for spending.

According to their assessment report, the total approved budget for capital expenditure was GHS 39,142 million in 2018. However, only 15.8 percent (GHS 6, 208 million) was released. Similarly, in 2019, the ministry spent less than half (45.7 percent) of its approved budget of GH¢59,592,448. The organization therefore urged government to ensure the mobilization of adequate funds and timely released to MDAs.

Furthermore, the 2021 budget reveals that government intends to give the artisanal fishing industry a major facelift. The government will complete the construction of the National Aquaculture Centre to promote aquaculture in the country. In addition, Government will construct hatcheries at the Ashiaman and Kona- Odumase and complete work at the Sefwi Wiawso and Dormaa Ahenkro.

To ensure growth of the fisheries sector, Kweku Ofori Asiamah, Transport Minister has revealed that the government has earmarked three towns, for the construction of modern fish landing sites. The towns are Ekumfi Otuam, Osu, and Mfantseman. This will bring the total number of such projects along the coastal regions of Ghana to fourteen.

Read also: We have taken some steps to get some of these monies back- SSNIT

Tags: 2021 Budget AssessmentAgribusinessBusinessFisheries IndustrySEND GhanaTuna Association
Please login to join discussion
Previous Post

Kumi Guitar features Shatta Wale on new song

Next Post

Prospects for sub-Saharan Africa recovery taking shape – World Bank

Sign up for The Vaultz analytic wire

Get weekly news analysis from top editors at The Vaultz and stay informed on trending economic and business issues from across the globe.

Related Posts

Stonebwoy Shares Misconception About Descent
Entertainment

Artist Calls for Respect for Longevity, Consistency in Music Industry

May 12, 2025
U.S. and Chinese flags as Important Consensus Reached In US, China Trade Talks
Asia

Important Consensus Reached In US, China Trade Talks

May 12, 2025
Bright Simons, Water, Simons
General News

Bright Simons Proposes Urgent Water Pricing Overhaul for Ghana

May 12, 2025
 Africa Confronts Debt Crisis At AU Lomé Summit
Africa

 Africa Confronts Debt Crisis At AU Lomé Summit

May 12, 2025
Jubilee oil field
Extractives/Energy

Technical Glitch on Jubilee FPSO Disrupts Atuabo Supply Chain 

May 12, 2025
NPP loses ground on social media
General News

NPP Losing Ground As Social Media Turns Red

May 12, 2025
slide 2 of 6
NPP loses ground on social media
General News

NPP Losing Ground As Social Media Turns Red

by Lilian AhedorMay 12, 2025
Stonebwoy Shares Misconception About Descent
Entertainment

Artist Calls for Respect for Longevity, Consistency in Music Industry

by Esther Korantemaa OffeiMay 12, 2025
U.S. and Chinese flags as Important Consensus Reached In US, China Trade Talks
Asia

Important Consensus Reached In US, China Trade Talks

by Comfort AmpomaaMay 12, 2025
Bright Simons, Water, Simons
General News

Bright Simons Proposes Urgent Water Pricing Overhaul for Ghana

by Silas Kafui AssemMay 12, 2025
 Africa Confronts Debt Crisis At AU Lomé Summit
Africa

 Africa Confronts Debt Crisis At AU Lomé Summit

by Lawrence AnkutseMay 12, 2025
Jubilee oil field
Extractives/Energy

Technical Glitch on Jubilee FPSO Disrupts Atuabo Supply Chain 

by Prince AgyapongMay 12, 2025
NPP loses ground on social media
General News

NPP Losing Ground As Social Media Turns Red

by Lilian AhedorMay 12, 2025
Stonebwoy Shares Misconception About Descent
Entertainment

Artist Calls for Respect for Longevity, Consistency in Music Industry

by Esther Korantemaa OffeiMay 12, 2025
slide 1 to 6 of 6
Stonebwoy Shares Misconception About Descent
U.S. and Chinese flags as Important Consensus Reached In US, China Trade Talks
Bright Simons, Water, Simons
 Africa Confronts Debt Crisis At AU Lomé Summit
Jubilee oil field
NPP loses ground on social media
[/vc_row_inner]

Recent News

  • Artist Calls for Respect for Longevity, Consistency in Music Industry
  • Important Consensus Reached In US, China Trade Talks
  • Bright Simons Proposes Urgent Water Pricing Overhaul for Ghana
  •  Africa Confronts Debt Crisis At AU Lomé Summit
  • Technical Glitch on Jubilee FPSO Disrupts Atuabo Supply Chain 
The Vaultz News

Copyright © 2021 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2021 The Vaultz News. All rights reserved.